(Filed Under Financial and General Interest News). Calida Group first half sales rose 10.7% while net income fell 25.1% “due to positive one-time effects from tax and valuation of foreign currency positions in the prior year,” according to the company.
The Swiss-based firm owns the Calida and Aubade underwear and lingerie labels, as well as brands Lafuma Mobilier, Millet Mountain Group and Oxbow (which include categories such as outdoor apparel, furniture and sports gear). In the first half of this year the company earned 4.4 million Swiss francs (CHF)(about $4.5 million at current conversion rates) on sales of 194.3 million CHF (about $199 million), compared to a profit of 5.9 million CHF (about $6 million) on sales of 175.6 million CHF (about $180 million) in the first half of 2017.
Sales at the Calida division rose from 56.6 million CHF (about $58 million) in the first half of last year to 61.4 million CHF (about $63 million) in the first half of 2018. During the same period sales at the Aubade division slipped slightly from 26.8 million euros (about $31 million) to 26.7 million euros. Note that the company calculates sales for its different divisions in different currencies.
The company noted that “operating profit remained virtually stable despite substantial investments in brands and sales systems. All brands developed positively. The online business was significantly expanded.” It added that during the half it also increased its stake in Lafuma, a company in which it has been gradually building its position, to 87.7%.
CEO Reiner Pichler boasted, “we successfully managed the fundamental market changes in the reporting period through targeted investments. As part of our multi-brand strategy, our focus is on clearly positioning the individual brands, promoting innovation, anticipating customer needs and developing sales channels by adapting them to the changing consumer behavior.”
Calida reported “growth of 60.1% was achieved in e-commerce in the first six months of the current year. The share of online business in total revenue increased from 7.1% to 10.2% compared to the prior year. This does not include online sales of Calida Group products by retail customers and online traders.”
Looking ahead at the second half, the company expects “stable revenue development and slightly lower earnings.”
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